In simple terms, NMB Bank in Tanzania made a lot of money last year, setting a record with nearly 931 billion Tanzanian shillings before tax. This was a 20% increase from 2023, showing the bank is growing and doing well financially.

The CEO, Ruth Zaipuna, said 2024 was a great year for both finances and operations, and the bank plans to keep improving by bringing new ideas, helping more people access financial services, and providing long-term value.

NMB’s total revenue grew by 16%, thanks to more income from both lending and other services. The bank kept costs under control, spending less compared to what it earned, and used digital tools and efficient processes to stay strong. As a result, NMB could continue growing its main business areas.

The bank’s total assets went up 13%, with loans and customer deposits both increasing. It also managed to reduce bad loans, making it one of the top lenders in terms of quality. Its capital strength means it’s ready for more investments and future growth.

NMB’s achievements have put it on the map as one of the 30 most valuable companies in Sub-Saharan Africa (not counting South Africa). The bank now serves over 8.6 million customers and continues to lead in both loans and deposits. Last year, it also spent a lot on education, health, and environmental programs to help improve society.

Looking ahead, NMB plans to invest in technology, train its staff, and offer solutions that focus on what customers need. This will help it reach more people and continue supporting Tanzania’s economic growth.